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Dec 5, 2012
12/12
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wall street investors are waiting for a fiscal cliff deal. stocks were unchanged. the dow lost 13 points while the nasdaq was down five points. bank profits are getting bigger. the financial industry earned $37.6 billion in the third quarter. that's an increase of more than 6% and it could lead to more lending. there's good news on the housing front. a survey shows housing prices were up more than 6% in october. that's the best gain in six years. starting in 2016 the disney characters are coming to netflix. they landed exclusive rights to stream disney movies before they air on cable networks. netflix will get some of disney's classic movies. no financial terms of the deal were released. and just in time for the holidays, starbucks is introducing a $454 gift card. the card is made of etched steel. comes with $400 on it. the reason why it's $450? it costs $50 just to make the card. there will be only 5,000 available and they will only be sold on the website gilt.com. the card comes with a gold level starbucks membership for $400 you can buy 57 cups of starbucks new
wall street investors are waiting for a fiscal cliff deal. stocks were unchanged. the dow lost 13 points while the nasdaq was down five points. bank profits are getting bigger. the financial industry earned $37.6 billion in the third quarter. that's an increase of more than 6% and it could lead to more lending. there's good news on the housing front. a survey shows housing prices were up more than 6% in october. that's the best gain in six years. starting in 2016 the disney characters are...
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Dec 14, 2012
12/12
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fiscal cliff, maybe there's an idea. >>> "cbs moneywatch" time now on a friday. and if you need a cab in new york city, there may soon be an app for that. erica ferrari here in new york with that. erica, good morning to you. >>> good morning, terrell. a new report showing growth in china's manufacturing sector lifted most asian stocks. hong kong's hang seng gained more than half a percent. tock owe's nikkei shed a fraction. concerned about washington's fiscal talks pushed wall street stocks lower. the dow finished down 74 points on thursday. the nasdaq lost 21 points. >>> swiss bank ubs is said to be in talks to pay a $1 billion fine to settle allegations of rigging a key interest rate benchmark. ubs is accused of manipulating the libor to boost trading profits. the rate affects trillions of dollars and loans including mortgage rates. barclays paid a $450 million fine to settle similar allegations last june. >>> consumers are spending more, but the results are mixed for retailers. the commerce department said on thursday that retail sales increased 0.3 in the mon
fiscal cliff, maybe there's an idea. >>> "cbs moneywatch" time now on a friday. and if you need a cab in new york city, there may soon be an app for that. erica ferrari here in new york with that. erica, good morning to you. >>> good morning, terrell. a new report showing growth in china's manufacturing sector lifted most asian stocks. hong kong's hang seng gained more than half a percent. tock owe's nikkei shed a fraction. concerned about washington's fiscal talks...
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Nov 29, 2012
11/12
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wall street got a boost from the fiscal cliff talks. dow added 106 points after being down triple digits earlier in the day. nasdaq gained 23 points. the u.s. economy is growing at a steady pace according to the latest report from the federal reserve. the so-called beige book survey shows a pickup in consumer spending and home sales in october and early november. economic growth improved in nine of the 12 federal reserve districts but superstorm sandy hampered growth in the northeast. could the dollar bill be going the way of the doo-doo. a congressional panel is once again calling for the u.s. to stop printing singles and switch entirely to dollar coins. the nonpartisan panel believes it could save taxpayers money. it's more expensive to produce coins but they last about six times longer than paper bills. and you'll need some extra coins to buy starbucks latest. the coffee king is selling a new brew that will set you back $7 for a grande cup. it's made from a rare been grown in costa rica. if you want to brew a cup at home, a bag of th
wall street got a boost from the fiscal cliff talks. dow added 106 points after being down triple digits earlier in the day. nasdaq gained 23 points. the u.s. economy is growing at a steady pace according to the latest report from the federal reserve. the so-called beige book survey shows a pickup in consumer spending and home sales in october and early november. economic growth improved in nine of the 12 federal reserve districts but superstorm sandy hampered growth in the northeast. could the...
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Nov 27, 2012
11/12
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coming up on "cbs this morning," an update on negotiations to avoid the fiscal cliff. plus, a warning about pork chops and ground pork and the harmful bacteria they may harbor. and pastor rick warren on the tenth anniversary of his best-selling book, "the purpose driven book." take care, everybody, have a great day. ,,,, i'm frank mallicoat. and i'm michelle griego. tis 4:-- developing n >> your realtime captioner: linda marie macdonald. >>> good morning. it's tuesday, november 27. i'm frank mallicoat. >> i'm michelle griego. time now is just about 4:30. we're following some developing news this morning. an armed man keeps police in a standoff through the night and you are looking live at the scene right now off treasure island. cbs 5 reporter elissa harrington is in san francisco with more exclusive video of the standoff on treasure island. she joins us now with the very latest. good morning. >> reporter: good morning. well, this standoff started around 11:00 last night so we're going on almost 6 hours. in this video you can see police officers and the suspect holding
coming up on "cbs this morning," an update on negotiations to avoid the fiscal cliff. plus, a warning about pork chops and ground pork and the harmful bacteria they may harbor. and pastor rick warren on the tenth anniversary of his best-selling book, "the purpose driven book." take care, everybody, have a great day. ,,,, i'm frank mallicoat. and i'm michelle griego. tis 4:-- developing n >> your realtime captioner: linda marie macdonald. >>> good morning. it's...
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Nov 19, 2012
11/12
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asian markets up today on fiscal cliff progress. the nikkei closed up 1.5% while hong kong's hang song rose just after 0.5%. >>> wall street investors liked what they heard about the deficit reduction plan. on friday, the door closed up nearly 46 points while the nasdaq gained 16. >>> black friday starts a day early this year. several of the big box stores will be open on thanksgiving but a recent survey shows 72% of shoppers plan to spend less. the national retail federation projects a spending increase of 4.1% to just over $580 billion, but that's about 1.5% lower than last year. around the country, some shoppers have already lined up outside stores so they could be the first ones through the door friday morning. >>> good news at the pump. the average price for a gallon of gas has fallen over 7 cents over the past two weeks. the lundberg survey puts the national average at $3.47 a gallon for regular. >>> and twinkie lovers, you can stop hoarding those tasty treats. hostess brand appears to be in bankruptcy court today. experts say
asian markets up today on fiscal cliff progress. the nikkei closed up 1.5% while hong kong's hang song rose just after 0.5%. >>> wall street investors liked what they heard about the deficit reduction plan. on friday, the door closed up nearly 46 points while the nasdaq gained 16. >>> black friday starts a day early this year. several of the big box stores will be open on thanksgiving but a recent survey shows 72% of shoppers plan to spend less. the national retail federation...
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Nov 16, 2012
11/12
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continued concerns about the fiscal cliff in the u.s. slowed down stocks in asia. hang seng was up a quarter of a percent while the nikkei had a big rally adding more than 2%. wall street stocks posted a third consecutive decline driven by weak retail forecasts and higher unemployment claims. the dow lost 28 points on thursday. nasdaq ended nine points lower. investors will be watching today's meeting between president obama and congressional leaders for signs of a break in the fiscal cliff negotiations. federal reserve chairman ben bernanke says tight fisted banks are keeping the nation's economy from getting better. he says many credit worthy borrowers are onable to get loans to buy new homes. he says banks lending rules have slumped too far the other way after the lax mortgage lending that led to the financial crisis. the red ink gets deeper for the postal service. the agency reported a record loss of almost $16 billion for the fiscal year that ended on september 30th. the postal service is not taxpayer funded. it blames much of its problems on congress for forc
continued concerns about the fiscal cliff in the u.s. slowed down stocks in asia. hang seng was up a quarter of a percent while the nikkei had a big rally adding more than 2%. wall street stocks posted a third consecutive decline driven by weak retail forecasts and higher unemployment claims. the dow lost 28 points on thursday. nasdaq ended nine points lower. investors will be watching today's meeting between president obama and congressional leaders for signs of a break in the fiscal cliff...
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Dec 11, 2012
12/12
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. >>> to the fiscal cliff negotiations now. it is crunch time. with just three weeks before higher taxes and spending cuts kick in, negotiations are underway, but it's not known what if any progress is being made. speaking in michigan yesterday, the president said he's willing to compromise a little, but the gop wants to know specifics. danielle nottingham has more. >> reporter: president obama's campaign to steer clear of the fiscal cliff took him to a diesel engine plant outside detroit. >> congress doesn't act soon, meaning the next few weeks, starting on january 1, everybody's going to see their income taxes go up. >> reporter: private face-to-face talks were revived this weekend when house speaker john boehner went over to the white house. neither side is releasing details about the conversation, but taxes are still the big sticking point. >> i'm not going to have a situation where the wealthiest among us including folks like me get to keep all our tax breaks. >> reporter: republicans have adamantly opposed raising taxes, but now some are co
. >>> to the fiscal cliff negotiations now. it is crunch time. with just three weeks before higher taxes and spending cuts kick in, negotiations are underway, but it's not known what if any progress is being made. speaking in michigan yesterday, the president said he's willing to compromise a little, but the gop wants to know specifics. danielle nottingham has more. >> reporter: president obama's campaign to steer clear of the fiscal cliff took him to a diesel engine plant...
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Dec 31, 2012
12/12
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thank you. >>> meanwhile the final day of fiscal cliff negotiations. hopes of reaching a wide-ranging deal to avoid automatic tax increases and spending cuts is all but gone. without a plan in place by midnight it will cost americans an additional $536 billion. spending would be reduced by $110 billion, and the cuts would be felt in all areas of the government. economists have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal one that might spare millions of americans from paying higher taxes. danielle nottingham is in washington with the latest. dab yell, good morning to you. >> good morning, terrell, vice president joe biden is now in on negotiations. senate minority leader mitch mcconnell reached out to him sunday night after talks with democrats stalled. but with just hours go until this deadline there are still obstacles standing in the way of even a watered down agreement. lawmakers left the capitol sunday night without a d
thank you. >>> meanwhile the final day of fiscal cliff negotiations. hopes of reaching a wide-ranging deal to avoid automatic tax increases and spending cuts is all but gone. without a plan in place by midnight it will cost americans an additional $536 billion. spending would be reduced by $110 billion, and the cuts would be felt in all areas of the government. economists have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this...
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Dec 10, 2012
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christine lagarde said lawmakers need to address the country's debt, the deficit, and the fiscal cliff and quickly to avoid the uncertainty from affecting the global economy. she suggested a balanced approach, increasing revenue, while also cutting spending. >>> a new survey shows pay for private college prnts continues to climb. they studied data from 2010. it shows medial compensation rose to about $400,000, up nearly 3%. >>> and james bond's fought his way back to the top of the box office. "skyfall" made $11 million. "rise of the guardian" finished a close second with $10.5 million, and in third place, "twilight saga:breaking dawn" part twoer and $9.2 million. i've got to go see that animated christmas film. >> you and jack, that would be a good thing to do. >> "skyfall" kind of going nowhere and then jump back on top, that's kind of a strange move. >> that's james bond. that's no surprise. >> ashley morrison in new york. thanks, ashley. >>> hundreds said their "i dos" sunday. about 150 same-sex couples exchanged vows at seattle city hall. officiating judges who donated their time
christine lagarde said lawmakers need to address the country's debt, the deficit, and the fiscal cliff and quickly to avoid the uncertainty from affecting the global economy. she suggested a balanced approach, increasing revenue, while also cutting spending. >>> a new survey shows pay for private college prnts continues to climb. they studied data from 2010. it shows medial compensation rose to about $400,000, up nearly 3%. >>> and james bond's fought his way back to the top...
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Nov 30, 2012
11/12
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he'll tell americans the fiscal cliff will cause holiday shopping to plummet. >> let's give a christmas present to the american people. >> reporter: but the mood here on capitol hill is anything but festive. both sides say the tax hikes and spending cuts due to kick in at year end are unacceptable, they just don't believe each other. >> members of his own party seem quite comfortable of sending the economy over the fiscal cliff. >> reporter: the president sent timothy geithner to the hill with had $4 trillion plan. it includes 1.6 trillion in new taxes on upper income americans. 400 billion in cuts to medicare and other entitlement programs. and $50 billion in new spending on infrastructure and unemployment benefits. the biggest stumbling block remain. the new taxes on the wealthiest americans. while some republicans here in congress are hinting they might be open to the idea the majority seemed opposed. >> raising rates on the so-called rich is the holy grail of liberalism. their aim isn't job creation, they are interested in wealth distribution. >> reporter: the white house insists th
he'll tell americans the fiscal cliff will cause holiday shopping to plummet. >> let's give a christmas present to the american people. >> reporter: but the mood here on capitol hill is anything but festive. both sides say the tax hikes and spending cuts due to kick in at year end are unacceptable, they just don't believe each other. >> members of his own party seem quite comfortable of sending the economy over the fiscal cliff. >> reporter: the president sent timothy...
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Dec 28, 2012
12/12
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they're waiting to see what happens with the fiscal cliff. >> hope is fact if congress can get it done before january 1st. even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking. >> today's white house meeting might be the last chance to come to an agreement. that's because it takes time for a bill to work its way through both chamber of commerce. >> i don't know time wise how it can happen now. >> under senate rules, the only way a bill could make its way through the procedural hurdles in time is if every senator agrees not to. they'll have 24 hours. outside the beltway, carlino will be watching. >> everyone is kind of in a wait-and-see and fingers-crossed per expect tichb right now. >> since 1930 this is only the fifth time congress has worked after christmas. and today's summit is the first time p
they're waiting to see what happens with the fiscal cliff. >> hope is fact if congress can get it done before january 1st. even congressional leaders are skeptical. >> the american people have a right to be very upset with this congress. >> president obama has invited nancy pelosi, john boehner, mitch mcconnell, and harry reid to the white house this afternoon for a fiscal cliff summit. >> here we are five days from the new year, and we might finally start talking....
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Dec 28, 2012
12/12
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the fiscal cliff showdown resumes with face-to-face negotiations.. muni celebrates a big milestone.. and they're givg all of us a gift!! and.. putin puts a stop to l u-s adoptions.. why?? plus meet one family who's gotten stuck in the middle this international dispute. join us for cbs 5 eyewitness news this morning... beginng at 4:30. good morning. it's friday, ,,,, >>> here's look at forecast in some cities around the country. washington, d.c., partly sunny, 42. atlanta, partly sunny, 54. st. louis, cloudy, 38, denver, mostly cloudy, 33, seattle, mostly cloudy, 44 degrees. >>> here's another look at this morning's top stories. general norman swargts schwarzkopf died at his home yesterday in tampa, florida. he drove iraqi forces out of kuwait. he died from complications related to pneumonia. he was 78 years old. >>> and president obama meets with congressional leaders this afternoon at the white house to try to cut a deal to avoid the so-called fiscal cliff. in just four days across-the-board spending cuts take effect. >>> if president obama and cong
the fiscal cliff showdown resumes with face-to-face negotiations.. muni celebrates a big milestone.. and they're givg all of us a gift!! and.. putin puts a stop to l u-s adoptions.. why?? plus meet one family who's gotten stuck in the middle this international dispute. join us for cbs 5 eyewitness news this morning... beginng at 4:30. good morning. it's friday, ,,,, >>> here's look at forecast in some cities around the country. washington, d.c., partly sunny, 42. atlanta, partly sunny,...
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Nov 9, 2012
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cliff and raising taxes on the top two rate would cost jobs. >> reporter: how to avoid this fiscal cliff are expected to begin in earnest next week when congress returns to work. bolt democrats and republicans say they are willing to work together. >> legislation is the art of compromise, consensus building. >> reporter: house speaker john boehner said republicans are willing to raise revenue but only under certain conditions. >> what matters is where the increased revenue comes from and what type of reform comes with it. >> reporter: vice president biden is certain a solution can be found. >> we're not going over the cliff. we're determined not to go over the cliff. i think better heads will prevail. >> reporter: finding a solution in a lame duck congress could prove complicated. and that report from the congressional budget office also said if no agreement is reached the jobless rate would go up to 9.1% next year. >> susan mcginnis in washington on a friday morning. thank you so much. here in the northeast recovery from a pair of powerful storms is slow, painful and frustrating. this m
cliff and raising taxes on the top two rate would cost jobs. >> reporter: how to avoid this fiscal cliff are expected to begin in earnest next week when congress returns to work. bolt democrats and republicans say they are willing to work together. >> legislation is the art of compromise, consensus building. >> reporter: house speaker john boehner said republicans are willing to raise revenue but only under certain conditions. >> what matters is where the increased...
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Nov 8, 2012
11/12
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plus, why the fiscal cliff is being blamed for huge losses on wall street. rebecca jarvis will have the details later this morning. and more on that inspirational story of indianapolis colts coach chuck pagano and his battle with leukemia. many players shaving their heads in solidarity. that and more coming up later on cbs this morning. for now that will do it for the morning news for this thursday. as always appreciate you watching. i'm terrell brown in new york. take care, everybody, have a great day. ,,,, >> your realtime captioner: linda marie macdonald >>> good morning. it is thursday, november 8. i'm frank mallicoat. >> i'm michelle griego. time now just about 4:30. let's check the weather here in the bay area. i feel a bit of a chill, lawrence. >> maybe we had a cold front through move overnight but it was dry so now we are on the back side of that. there's a chance of showers, maybe even thunderstorms. we'll talk about that coming up. >> as far
plus, why the fiscal cliff is being blamed for huge losses on wall street. rebecca jarvis will have the details later this morning. and more on that inspirational story of indianapolis colts coach chuck pagano and his battle with leukemia. many players shaving their heads in solidarity. that and more coming up later on cbs this morning. for now that will do it for the morning news for this thursday. as always appreciate you watching. i'm terrell brown in new york. take care, everybody, have a...
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Dec 26, 2012
12/12
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. >>> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. the deadline is only six days away. the president plans to leave hawaii today and head back to washington to meet with lawmakers. where heed he and his wife, michelle, spent christmas visiting u.s. troops and their families in hawaii. to beat the january 1st deadline senate majority leader harry reid is said to be crafting his own fiscal package. it would extend the bush era tax cuts for households making less than $250,000, extend long-term unemployment, short-term spending cuts, and make a scheduled drop in medicare reimbursement to doctors. house speaker john boehner said they've had no communication with senator reid. >>> the exconwho ambushed and killed two volunteer firefighters in upstate new york may have murdered his sister. her body was found yesterday, and police say william spamglor had the same kind of military rifle used in the connecticut school massacre. he left behind a chilling note. >> reporter: the christmas eve fire in western new york burned seven homes to the gr
. >>> the looming fiscal cliff is forcing president obama to cut short his christmas vacation. the deadline is only six days away. the president plans to leave hawaii today and head back to washington to meet with lawmakers. where heed he and his wife, michelle, spent christmas visiting u.s. troops and their families in hawaii. to beat the january 1st deadline senate majority leader harry reid is said to be crafting his own fiscal package. it would extend the bush era tax cuts for...
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Nov 12, 2012
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year than reaching a deal to avoid the fiscal cliff. without an agreement on january 1st the bush era tax cuts will expire and $1.2 trillion in spending cuts goes into effect. that will likely result in a spike in unemployment and trigger a new recession. >> everybody recognizes that this will be a terrible thing for american families, for our economy, for just running the government in a sensible way. >> president obama has said any deal must include a tax increase on wealthy americans. an idea that republicans are pushing back against. >> raising those rates on january 1st would according to the independent firm ernst and young destroy 700,000 american jobs. >> but on "face the nation" sunday republican senator lindsey graham said the gop would be open to other means of increasing revenue. >> we don't need to raise taxes, we need to limit loop shoels and deductions for the wealthy. >> while members are not supportive of the tax plan, john boehner are urging them to make compromise, something president obama senior adviser david axelro
year than reaching a deal to avoid the fiscal cliff. without an agreement on january 1st the bush era tax cuts will expire and $1.2 trillion in spending cuts goes into effect. that will likely result in a spike in unemployment and trigger a new recession. >> everybody recognizes that this will be a terrible thing for american families, for our economy, for just running the government in a sensible way. >> president obama has said any deal must include a tax increase on wealthy...
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Dec 31, 2012
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. >>> also today is the final day of fiscal cliff negotiations. hope of reaching a wide-ranging deal in automatic spending increases and tax cuts is all but gone. spending would be reduced and cuts would be felt in all areas of the government. economies have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal, one that might spare millions of americans from paying her taxes. danielle nottingham reporting now from washington. >> lawmakers are still working on it. >> i want everyo one to know i' willing to get this done but i need dance partner. >> the main sticking point between democrats and republicans continues to be over the threshold of tax increases. president obama campaigned on raising taxes on income over $250,000 while many congressional republicans have pushed back against any tax increases. president obama is placing the blame for the impasse on the gop. >> they say that their biggest priority is making sure that we
. >>> also today is the final day of fiscal cliff negotiations. hope of reaching a wide-ranging deal in automatic spending increases and tax cuts is all but gone. spending would be reduced and cuts would be felt in all areas of the government. economies have warned that going over the cliff would cause a spike in unemployment and trigger another recession. this morning the senate reconvenes with the aim of reaching a smaller deal, one that might spare millions of americans from paying...
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Nov 28, 2012
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he'll ask them how the fiscal cliff could impact their lives. on tuesday he invited small business owners into the oval office to offer their ideas. >> they had one message for the president which is they need certainty. please get this deal done as soon as possible. >> reporter: but spending any time on capitol hill it's easy to see a deal forthcoming isn't coming soon. >> there's been little progress with the republicans which is a disappointment to me. >> their hard left doesn't want to change anything ever. they think any dollar spent or any commitment made by the federal government on any program at any time ought to be there in perpetuity. >> we are not going to accept an unfair deal that will hurt middle class today and protect the wealthiest americans. >> reporter: the president and congressional leaders have no talks scheduled for this week. now the president's meeting today with leaders from goldman sachs and comcast and yahoo! among others on friday he's hitting the road going to a toy factory in pennsylvania. >> susan mcginnis in was
he'll ask them how the fiscal cliff could impact their lives. on tuesday he invited small business owners into the oval office to offer their ideas. >> they had one message for the president which is they need certainty. please get this deal done as soon as possible. >> reporter: but spending any time on capitol hill it's easy to see a deal forthcoming isn't coming soon. >> there's been little progress with the republicans which is a disappointment to me. >> their hard...
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Dec 25, 2012
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with the president and congress on a short holiday break, there's been no movement on fiscal cliff negotiations. before he left washington, the president said he believes a deal could be made before the december 31 deadline. >>> u.s. troops celebrated their 12th consecutive christmas in afghanistan. service men and women attended a service at the nato base in kabul, sang some carols, then enjoyed a holiday dinner. >>> and coming up on the "morning news," he may be messy funny, jack klugman from "the odd couple "has died. a look back at his remarkable career. [ female announcer ] introducing u the latest coffee machine from nespresso. modular. intuitive. combines espresso and fresh milk. the new u. nespresso. what else? available at these fine retailers. >>> firefighters in california battled a raging river yesterday to rescue a homeless man. he was living on an island in the los angeles river and got into trouble after a fast-moving storm tore through the area. rescuers used an inflatable boat to reach the island and tossed ropes to the man which he tied around a tree. the man was taken to the
with the president and congress on a short holiday break, there's been no movement on fiscal cliff negotiations. before he left washington, the president said he believes a deal could be made before the december 31 deadline. >>> u.s. troops celebrated their 12th consecutive christmas in afghanistan. service men and women attended a service at the nato base in kabul, sang some carols, then enjoyed a holiday dinner. >>> and coming up on the "morning news," he may be...
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Dec 18, 2012
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cbs news, new york. >>> there is progress to report on fiscal cliff negotiations. two weeks from today, the painful series of spending cuts and tax increases will automatically go into effect if washington can't come up with a budget deal. late monday, though, we learned congressional republicans and the president are narrowing the gap in their differences. tara mergener is in washington with the latest. good morning to you. >> reporter: good morning to you, terrell. well, raising taxes on the wealthy is the biggest issue during these negotiations. but this morning, it appears both sides are giving ground. allowing the bush-era tax cuts to expire on couples' income over $250,000 was a cornerstone of president obama's re-election campaign. but he's reportedly backing off those demands. in his latest offer to republicans, the president is seeking to raise rates on incomes over $400,000 for couples. his offer also includes a reduction in future cost of living increases for social security recipients. and he's dropping his proposal to extend the payroll tax cut. if tha
cbs news, new york. >>> there is progress to report on fiscal cliff negotiations. two weeks from today, the painful series of spending cuts and tax increases will automatically go into effect if washington can't come up with a budget deal. late monday, though, we learned congressional republicans and the president are narrowing the gap in their differences. tara mergener is in washington with the latest. good morning to you. >> reporter: good morning to you, terrell. well,...
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Nov 26, 2012
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president obama and congress begin negotiations this week to avoid the coming fiscal cliff. about $600 billion in automatic tax hikes and spending cuts that will kick in at year-end. both sides say they're looking for ways to compromise. >> that's what representative government should be about. no one gets all they want. if reagan and o'neill could do it, boehner and obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax revenue. >> the key here is whether or not the republicans will move away from the ideologically rigid position which has been the grover/norquist pledge which most of them signed that they will not go for additional revenues. >> reporter: for the first time, even the anti-tax pledge appears to be negotiable. several republicans are indicating they're open to breaking that promise. >> when you're $16 trillion in debt, the only pledge we should be making to each other is to avoid becoming greece and republicans should put revenue on the table. >> reporter: but new revenue doesn't necessarily mean n
president obama and congress begin negotiations this week to avoid the coming fiscal cliff. about $600 billion in automatic tax hikes and spending cuts that will kick in at year-end. both sides say they're looking for ways to compromise. >> that's what representative government should be about. no one gets all they want. if reagan and o'neill could do it, boehner and obama should be able to do it. >> reporter: but republicans have consistently voted against any deal that raises tax...
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Nov 13, 2012
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trading on wall street was flat as investors grow concerned about the so called fiscal cliff. both the dow jones and the nasdaq were mostly unchanged, each losing a fraction of a point. >>> big changes at microsoft, the president of windows and windows live operations left the company after 23 years. his departure comes less than three weeks after microsoft launched windows 8. the company did not say why he was leaving. >>> and hostess is closing three bakeries following a strike of unionized bakers that began on friday. hostess products include wonder bread and twinkies. bakeries in seattle, st. louis, and cincinnati will be shut, putting more than 600 workers out of jobs. the bakers are protesting cuts to wages and benefits. hostess filed for bankruptcy last january. and now i'm hungry for a twinkie. >> hard times for ho-hos. get your twinkies now. they might not be available. >> stock up. >> ashley morison, thank you so much. >>> in sports, a monday night match-up between pittsburgh and kansas city. game tied third quarter, the steelers run into some trouble. ben roethlisbe
trading on wall street was flat as investors grow concerned about the so called fiscal cliff. both the dow jones and the nasdaq were mostly unchanged, each losing a fraction of a point. >>> big changes at microsoft, the president of windows and windows live operations left the company after 23 years. his departure comes less than three weeks after microsoft launched windows 8. the company did not say why he was leaving. >>> and hostess is closing three bakeries following a...
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Dec 6, 2012
12/12
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that's what they hear after the obama administration is ready to go over the fiscal cliff if the gop doesn't bid on higher taxes. on top earners. a just released poll shows nearly half of those ads say it's time to end tax cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes. >> is the administration prepared to go over the fiscal cliff? >> oh, absolutely. again, we say there's no prospect for an agreement that doesn't involve those tax rates going up. remember, it's 2%. remember, all of those americans, too, get a tax cut into that framework on the first $250,000 of their income. >> that said the president and speaker john boehner discussed the budget by phone yesterday. susan mcginnis is in washington with the latest on this game of fiscal chicken. susan, good morning to you. >> right. good morning, terrell. yeah, that phone call does raise the possibility that some serious talks coul
that's what they hear after the obama administration is ready to go over the fiscal cliff if the gop doesn't bid on higher taxes. on top earners. a just released poll shows nearly half of those ads say it's time to end tax cuts for the wealthy but keep it in place for americans earning $250,000 or less. 32% say the tax cuts should remain in place for everyone. during a broadcast interview yesterday timothy geithner was asked what if republican don't agree to raising taxes. >> is the...
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Dec 27, 2012
12/12
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. >>> and now to the efforts to avoid the so-called fiscal cliff. president obama returns to washington later today and the senate is due in session, but just about everyone agrees with just five days left, the possibility for a grand bargain to avoid across-the-board tax increases and spending cuts is all but lost, and even prospects for watered down deals seems slim. tara mergener is in washington with more. tara, good morning. >> good morning, duarte. yes. hopes for legislation to avoid the fiscal cliff now turns to the senate, but white house and republicans remain far apart. senators and staffers will be filling these empty hallways today trying to work out a deal to avoid the fiscal cliff. higher taxes will give the average american about $1,500 less to spend next year, and economists believe the $110 billion spending cuts will result in more layoffs. senator harry reid has a plan to keep taxes low for everyone making less than $250,000 a year as well as short-term spending cuts until a bigger deal can be reached. >> it is going to be a patch
. >>> and now to the efforts to avoid the so-called fiscal cliff. president obama returns to washington later today and the senate is due in session, but just about everyone agrees with just five days left, the possibility for a grand bargain to avoid across-the-board tax increases and spending cuts is all but lost, and even prospects for watered down deals seems slim. tara mergener is in washington with more. tara, good morning. >> good morning, duarte. yes. hopes for...
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Dec 24, 2012
12/12
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stocks stumbled on wall street and talks stalled on the fiscal cliff. the dow dropped nearly 121 points on friday while the nasdaq fell 29. >>> as americans hit the road for holiday travel, they'll be paying let at the gas pump. according to aaa, the national average is about 3.25 cents a gallon for regular. that's down 16 cents from a month ago. >>> "the hobbit:an unexpected journey," took in $27 million. coming in second, $16 million. "this is it" took in $14 million. duarte? >> thank you, erica ferrari, here in new york. >>> in sports the seahawks put a damper on the 49ers' plan of winning the midwest. they have a field goal block. it's scooped up by the seahawks richard sherman who brings it back to 90 yards for a touchdown. seattle blows out san fran, 42-13. >>> and the baltimore ravens are the champions of the afc north. the ravens get on the board first with a touchdown grab by tore are smith. baltimore passes the giants for a 33-14 win. when we return, the holiday hit a high note. audiences around the world take part at an annual sing-a-long of
stocks stumbled on wall street and talks stalled on the fiscal cliff. the dow dropped nearly 121 points on friday while the nasdaq fell 29. >>> as americans hit the road for holiday travel, they'll be paying let at the gas pump. according to aaa, the national average is about 3.25 cents a gallon for regular. that's down 16 cents from a month ago. >>> "the hobbit:an unexpected journey," took in $27 million. coming in second, $16 million. "this is it" took in...
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Dec 20, 2012
12/12
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. >>> today the house votes on john boehner's so-called plan b to avoid the fiscal cliff. it comes days before the automatic across-the-board spending cuts go into effect. he's aimed at keeping some tax rates at the current level. as well as forcing president obama to make a difficult decision. tara mergener is in washington. tara, good morning to you. >> good morning, terrell. well, speaker boehner has expressed confidence his plan b will pass the house. it would extend current tax rates for americans making less than a million dollars a year. if that happens, boehner says the president will have a choice to make. >> he can call on senate democrats to pass that bill, or he can be responsible for the largest tax increase in american history. >> speaker boehner's plan is the latest swipe in the duel over the fiscal cliff. he wants the white house to come up with a proposal that includes more spending reductions, but as an earlier news conference, the president said his latest offer provides enough cuts. >> what i said is that in order to arrive at a compromise, i am prepare
. >>> today the house votes on john boehner's so-called plan b to avoid the fiscal cliff. it comes days before the automatic across-the-board spending cuts go into effect. he's aimed at keeping some tax rates at the current level. as well as forcing president obama to make a difficult decision. tara mergener is in washington. tara, good morning to you. >> good morning, terrell. well, speaker boehner has expressed confidence his plan b will pass the house. it would extend current...
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Dec 4, 2012
12/12
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cliff. it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out there, both sides say it's time to get serious. governors from six states are headed here to washington today to tell president obama their thoughts on the fiscal cliff. the bipartisan group says both sides need to work together to avoid the tax increases and spending cuts due to kick in at the end of the year. >> no one's going to get what they want, but as a country to move forward, we've got to figure out who gives where, and if everything is going to be out on the table, how do we negotiate that? >> reporter:
cliff. it is a $2.2 trillion offer that does not raise the tax rate on the wealthiest americans and that has become the central issue of the negotiations. the white house says republicans still are not ready to get serious. susan mcginnis is in washington with the back and forth details. susan, good morning to you. >> reporter: good morning, terrell. gop leaders here on capitol hill sent their plan to the white house in this letter on monday, and now that both initial offers are out...
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Dec 12, 2012
12/12
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plus talks from fiscal cliff. we'll hear from nancy employee. >>> and more on the suspensions tossed out. we'll talk with the executive director of the nfl players' association. that and more coming up later on "cbs this morning." that is the news for this wednesday. 12/12/12 by the way, i should mention. appreciate you watching as always. terrell brown in new york city. thank you, everybody. have a great day. -- captions by vitac -- www.vitac.com -- captions by vitac -- www.vitac.com and i'm michelle griego. tis 4:-- the rain is back and with i. some massive tides! here's >>> good morning. it's wednesday, 12/12/12. i'm frank mallicoat. >> i'm michelle griego. time now is just about 4:30. the rain is back and high tides. >> got some showers out there and hi-def doppler is picking up on some of that. you can see some scattered light showers at this time. but more of that on the way, maybe some snow. we'll talk about that coming up. >> here's a live look at the nimitz as you past the oakland coliseum. coming up, we'
plus talks from fiscal cliff. we'll hear from nancy employee. >>> and more on the suspensions tossed out. we'll talk with the executive director of the nfl players' association. that and more coming up later on "cbs this morning." that is the news for this wednesday. 12/12/12 by the way, i should mention. appreciate you watching as always. terrell brown in new york city. thank you, everybody. have a great day. -- captions by vitac -- www.vitac.com -- captions by vitac --...
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Dec 21, 2012
12/12
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tips the effect the fiscal cliff can have on your tax return. that and more coming up on "cbs this morning." that's it for this morning. i'm off to find my "end of the world party. appreciate you watching. i'm terrell brown in new york. take care, everybody. have a great weekend. -- captions by vitac -- www.vitac.com and i'm michelle griego. tis 4:-- >> your realtime captioner: linda marie macdonald. >>> it's friday, december 21st and we're all still here. >> i'm brian hackney. >> i'm michelle griego. we have developing news right now in antioch where police are searching for a second suspect after a robbery police chase and this fiery crash. officials say they robbed the bonfair market on tenth street and then they drove off. police chased them and the suspect's car crashed and burst into flames. one suspect was arrested but police are still trying to find the second suspect. >>> heavy rain and wind are on tap this morning. lawrence karnow has the forecast. >> it's a very slow-moving storm system but we are seeing that rain moving into the nort
tips the effect the fiscal cliff can have on your tax return. that and more coming up on "cbs this morning." that's it for this morning. i'm off to find my "end of the world party. appreciate you watching. i'm terrell brown in new york. take care, everybody. have a great weekend. -- captions by vitac -- www.vitac.com and i'm michelle griego. tis 4:-- >> your realtime captioner: linda marie macdonald. >>> it's friday, december 21st and we're all still here. >>...
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Dec 19, 2012
12/12
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. >>> two fiscal cliff negotiations now. speaker john boehner is pushing ahead with a plan separate from the one he's trying to negotiate with president obama. he calls it plan b. the white house and democratic leaders have already rejected boehner's idea. nancy cordes has the details now from washington. >> our plan b would protect the american taxpayers. >> reporter: speaker boehner says he'll take his plan directly to the house floor with a bill to extend the low bush cut tax rates for all americans making less than $1 million a year. that's far higher than the $400 income cut-off the president is currently proposing, higher still that president obama's campaign promise to let taxes rise on households make 2g $50,000 or more. boehner said he has to bypass talks with the white house and pull the vote on his plan now because the president's latest fiscal cliff proposal still isn't balanced between taxes and cuts. >> what is your definition of a balanced deal? does it have to be dollar-for-dollar spending cuts on tax revenue
. >>> two fiscal cliff negotiations now. speaker john boehner is pushing ahead with a plan separate from the one he's trying to negotiate with president obama. he calls it plan b. the white house and democratic leaders have already rejected boehner's idea. nancy cordes has the details now from washington. >> our plan b would protect the american taxpayers. >> reporter: speaker boehner says he'll take his plan directly to the house floor with a bill to extend the low bush...
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Dec 3, 2012
12/12
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negotiations continue today in washington to avoid the so-called fiscal cliff, but so far there's been more rhetoric than resolve. there's now less than a month to head off the automatic tax hikes and spending cuts that will kick in next year. john boehner said he can't believe the latest white house proposal. the obama administration insists there's no deal without a tax increase. susan mcginnis is in washington with details this morning. susan, good morning to you. >> reporter: good morning, terrell. it may appear the two sides are nowhere but these talks are expected to pick up dramatically very soon. december is here and as they say here in washington the lawmakers can smell the jet fumes meaning the planes taking them home for their holiday recess. what we're hearing there should be a deal by christmas. the white house is already decorated for the holidays but the mood here in washington is anything but festive. >> i think we're going over the cliff. >> reporter: if congress doesn't act america will ring in the new year with $110 billion in spending cuts and a $500 billion tax inc
negotiations continue today in washington to avoid the so-called fiscal cliff, but so far there's been more rhetoric than resolve. there's now less than a month to head off the automatic tax hikes and spending cuts that will kick in next year. john boehner said he can't believe the latest white house proposal. the obama administration insists there's no deal without a tax increase. susan mcginnis is in washington with details this morning. susan, good morning to you. >> reporter: good...
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Dec 17, 2012
12/12
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wall street continues its weight for a fiscal cliff deal. last week. >>> united and continental airlines moved a step closer to finalizing their merger over the weekend. united's pilots union agreed to a new contract that will also cover pilots coming from continental. the deal includes raises and bigger retirement contributions and it allows united to expand its use of larger regional jets. >>> diet pepsi is getting a huge makeover next month, but they've already made new changes. they've added a new sweetener. diet pepsi uses aspartame, which breaks down in the heat. they're mixing it with a new sweetener that helps it stay sweeter longer. the new mix hit the shelves in some areas earlier this month. >>> and in the box office, a record-setting record for "the hobbit." the fantasy flick took in almost $85 million. that's better than the three previous "lord of the ring" films and gives "the hobbit" the biggest december opening ever. way back in second place with slightly more than $7 million, "rise of the guardians," and coming in a close t
wall street continues its weight for a fiscal cliff deal. last week. >>> united and continental airlines moved a step closer to finalizing their merger over the weekend. united's pilots union agreed to a new contract that will also cover pilots coming from continental. the deal includes raises and bigger retirement contributions and it allows united to expand its use of larger regional jets. >>> diet pepsi is getting a huge makeover next month, but they've already made new...
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Nov 7, 2012
11/12
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congress will soon be coming back to debate the fiscal cliff. this is the combination of spending cuts and tax hikes that economists say could plunge the united states into recession if it takes effect at the end of the year. now, house speaker john boehner says they are looking to kick the can down the road. he doesn't want to deal with a lame duck congress, but that's our next big fight. there will also be a big fight in the republican party. republicans will look at what happened in this election and try to figure out what's next. some will say we've nominated two straight relative moderates. john mccain and mitt romney. and we've lost both times. the lesson they will take from that is it's time to move to the right. it's time to have a true believer as the party standard bearer in 2016. other republicans will say, you know he what, we're getting crushed among latinos and minority voters. it's time for a new direction for the party. this is a message you hear from marco rubio, something you hear from jeb bush, and this is the real fight that
congress will soon be coming back to debate the fiscal cliff. this is the combination of spending cuts and tax hikes that economists say could plunge the united states into recession if it takes effect at the end of the year. now, house speaker john boehner says they are looking to kick the can down the road. he doesn't want to deal with a lame duck congress, but that's our next big fight. there will also be a big fight in the republican party. republicans will look at what happened in this...
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Nov 14, 2012
11/12
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. >>> to efforts to avert the fiscal cliff. today president obama holds his first news conference since being re-elected. he'll meet with business leaders to discuss the budget crisis. on friday he meets with congressional leaders as they work to avoid the tax hikes and spending cuts scheduled to go into effect next year. if that happens, middle income families will see a tax increase of $2,000. the congressional budget office says nearly 3.5 million jobs will be lost and the unemployment rate will jump to over 9% if a deal isn't reached. the white house says the president is prepared to listen. >> fair to say the president also believes -- he's not looking to box himself in or box other people's ideas out as we approach the conversation that will begin on friday. >> republicans want to hold the line on income tax rates and force bigger spending reductions. >>> on capitol hill today lawmakers will question the head of the pharmacy that's at the heart of the deadly meningitis outbreak. turns out federal health inspectors wanted
. >>> to efforts to avert the fiscal cliff. today president obama holds his first news conference since being re-elected. he'll meet with business leaders to discuss the budget crisis. on friday he meets with congressional leaders as they work to avoid the tax hikes and spending cuts scheduled to go into effect next year. if that happens, middle income families will see a tax increase of $2,000. the congressional budget office says nearly 3.5 million jobs will be lost and the...
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Oct 9, 2012
10/12
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the fiscal cliff refers to budget control measures scheduled to take effect at year's end, including tax increases and spending cuts. >>> today attack now on the u.s. consulate in libya. one of the men responsible for the security of u.s. diplomatic in libya said he knew there were security issues there long before the deadly attack in benghazi. he's scheduled to testify tomorrow. sheryl atkinson has his story. >> reporter: lieutenant colonel andrew wood last set foot in libya in february to elite a security team with expertise in counterterrorism. from the moment he arrived, he says he saw chaos. >> shooting instances occurred. many instances involving the local security guard force that we were training there. constantly there was battles going on between militias. >> reporter: wood met daily with ambassador christopher stevens to discuss security. was he concerned about security? >> he was. he was constantly concerned about the threats to not just himself, but the entire staff there. >> reporter: was there what you saw as a visible security drawdown during the period of time you w
the fiscal cliff refers to budget control measures scheduled to take effect at year's end, including tax increases and spending cuts. >>> today attack now on the u.s. consulate in libya. one of the men responsible for the security of u.s. diplomatic in libya said he knew there were security issues there long before the deadly attack in benghazi. he's scheduled to testify tomorrow. sheryl atkinson has his story. >> reporter: lieutenant colonel andrew wood last set foot in libya in...
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Jul 16, 2012
07/12
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cliff. the survey also found less evidence of hiring. the good news, a majority of the economists report employment rates are not falling. >>> some good news for drivers. gas prices are starting to sink again. according to aaa, the average price of a gallon of regular is now $3.39. that's down about 13 cents from just a month ago. >>> and a potential braking problem has prompted ford to issue a recall of its escape suv. the recall affects more than 10,000, 201 escapes. they were produced between marchth and june 7th at ford's louisville plant. the carpet padding could interfere with the brakes. no accidents or injuries related to the problem have been reported. that's good news. that could certainly be dangerous. >> absolutely could be. ashley morrison here in new york. thank you so much. >>> we'll take a quick break on a monday morning. did the fda illegally crackdown on whistle blowers. the agency is caught spying on 2 dozen people, including workers, journalists and congressional official
cliff. the survey also found less evidence of hiring. the good news, a majority of the economists report employment rates are not falling. >>> some good news for drivers. gas prices are starting to sink again. according to aaa, the average price of a gallon of regular is now $3.39. that's down about 13 cents from just a month ago. >>> and a potential braking problem has prompted ford to issue a recall of its escape suv. the recall affects more than 10,000, 201 escapes. they...
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Jul 16, 2012
07/12
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cliff. the survey also found less evidence of hiring. the good news, a majority report employment rates are not falling. >>> gas prices are starting to sink again according to aaa, the average price of a gallon of regular is $3.39. that's down about 13 cents from just a month ago. >>> and a potential braking problem prompted ford to issue a recall. it affects 2013 escapes. they were built between march 8th and june 7 ft at the louisville plant. the carpet padding could sbeer fear with the escape's brakes. no accidents or injuries have been reported. that's good news. that could certainly be dangerous. >> absolutely. could be. ashley morrison in new york. thanks very much. >>> when we come back, did the fda illegally crackdown on whistle blowers. the agency is caught spying on almost two dozen people including workers and congressional officials. >>> first, a bus slams into a truck and then watch out, watch out. why they're calling this guy the luckiest man in russia. we went around the count
cliff. the survey also found less evidence of hiring. the good news, a majority report employment rates are not falling. >>> gas prices are starting to sink again according to aaa, the average price of a gallon of regular is $3.39. that's down about 13 cents from just a month ago. >>> and a potential braking problem prompted ford to issue a recall. it affects 2013 escapes. they were built between march 8th and june 7 ft at the louisville plant. the carpet padding could sbeer...
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Dec 7, 2012
12/12
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in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to hire taxes for the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can get something done. >> congress and the president have until the end the year to avert automatic spending cuts and tax increase. take a quick break. when we come back on the morning news a preview of this morning's jobs report. what role did sandy play in last month's hiring. this is the morning news. port. what role did sandy play in hiring? ♪ [ male announcer ] with free package pickup from the u.s. postal service the holidays are easy. visit usps.com. pay, print, and have it picked up for free before december 20h for delivery in time for the holidays. you can even give us special instructions on wher
in this country president obama says cutting a deal to avoid the fiscal cliff could to be done in a week but the president said that won't happen unless republicans drop their opposition to hire taxes for the wealthy. president obama visited a virginia family to move his cause. he maintained his hard line on tax increase. >> just to be clear i'm not going to sign any package that somehow prevents the top rates from going up for folks at the top 2%. but i do remain optimistic that we can...
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Jun 12, 2012
06/12
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cliff. we'll get reaction from ed gillespie, mitt romney's senior adviser. >>> plus, a look at the safety of so-called agent orange corn and the debate over genetically modified food. >>> and starbucks ceo howard schultz has an update on his jobs initiative. that and more later on "cbs this morning." that's the "cbs morning news" for this tuesday. as always, we appreciate you watching. i'm terrell brown. take care, everybody. have a great day. -- captions by vitac -- www.vitac.com >>> claims should out of eight east bay home. how this could be part of a bigger problem. >>>
cliff. we'll get reaction from ed gillespie, mitt romney's senior adviser. >>> plus, a look at the safety of so-called agent orange corn and the debate over genetically modified food. >>> and starbucks ceo howard schultz has an update on his jobs initiative. that and more later on "cbs this morning." that's the "cbs morning news" for this tuesday. as always, we appreciate you watching. i'm terrell brown. take care, everybody. have a great day. -- captions...
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May 29, 2012
05/12
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. >>> coming up after your local news on "cbs this morning," the latest on the so-called fiscal cliff that threatens our economic recovery. we'll hear from the former secretary. >>> and also details on a new biography on walter cronkite. >>> and famed author butch harmon has tips on how to improve your game. that's the "cbs morning news" for this tuesday. i'm terrell brown. take care, everybody. have a great day. -- captions by vitac -- www.vitac.com the dumbarton bridge reopened stew hours ahead of schedule. it will tell you about all they begin instruction and the bridge will be closed again.
. >>> coming up after your local news on "cbs this morning," the latest on the so-called fiscal cliff that threatens our economic recovery. we'll hear from the former secretary. >>> and also details on a new biography on walter cronkite. >>> and famed author butch harmon has tips on how to improve your game. that's the "cbs morning news" for this tuesday. i'm terrell brown. take care, everybody. have a great day. -- captions by vitac --...